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SKF posts disappointing decline
Pump Industry Analyst
SKF P O S T S DISAPPOINTING DECLINE
r.¢3
3: Z <
INGERSOLL-RAND APPROVES SHARE
Net sales for the same period fell marginally from SKr8881 million to SKr8864 million. While sales were affected by changes in exchange rates and by price and mix effects, volumes remained unchanged. Strong pressure on pricing continues. Sales of seals during the first quarter of 1997 were SKr921 million, up from SKr833 million reported for the same quarter a year ago. During the quarter, production of radial seals began at the joint venture company established earlier this year outside Shanghai.
The board of directors of Ingersoll-Rand Company has authorized the repurchase of up to 10 million shares of the company's common stock.
GENERAL
REPURCHASE PROGRAMME
At 30 April 1997, the company had 109.8 million shares of common stock outstanding. Share repurchases will be made in the open market and in privately negotiated transactions. The repurchase programme is designed to replenish the company's treasury shares, which were depleted by a transfer of shares related to the recent acquisition of Clark Equipment Company.
plement the NEWCO product line of Newman's lnc, a Precision Castparts subsidiary.
the site. The website also has links to other sources of intbrmation and soft-
The acquisition is part of Precision Castparts' strategy to strengthen the product line of PCC Flow Technologies and to reduce the fragmentation of the pump and valve industry.
ware in the fluids handling and pump fields.
technology
Accessible in Italian, English, and
French, Spanish German, Caprari' s
web site at http://www. caprari.it provides a his-
PARKER HANNIFIN REORGANIZES
tory
of
the
company,
product and market sec-
Parker Hannifin has formed three new operating groups.
tor listings and contact facilities.
With effect from 1 July 1997, will be established separately
The website of Netherlands-based DP-Pumps'
from Fluid Connectors. In ad-
at http://www.dp.nl pro-
dition, the Motion & Control
vides detailed information in Dutch and English on
a new Instrumentation Group
Group will be divided into two
the company's vertical stainless steel multistage
groups: Hydraulics and Automation. These newly created
centrifugal pumps and Hy-
groups will be separate and
dro-Unit booster sets.
autonomous and will have their
own
management
DIVIDENDS
teams, which have yet to be •
announced.
AQUATICS
Roper Industries Inc has
DEAL
GARDNER DENVER SECURES 5 YR
ROBBINS & MYERS
declared a quarterly cash dividend of US$0.09 per
Essef Corporation has completed the acquisition of General Aquatics Inc, the swimming pool construction company and manufacturer of swimming pool equipment and accessories.
LABOUR PACT
ACQUIRES TYCON
share to stockholders of re-
Gardner Denver Machinery Inc and the International Association of Machinists and Aerospace Workers have executed a five-year labour agreement.
Expanding its glass-lined equipment business, Robbins & Myers Inc has acquired Industrie Tycon SpA, an Italian producer of glass-lined reactor and storage vessels with annual sales of US$20 million.
General Aquatics has annual sales of US$]66 million. Its American Products business designs and manufactures swimming pool equipment including pumps, filters, lights, skimmers, fittings and vacuums. Essef Corporation, headquartered in Chardon, Ohio, designs and manufactures components to move, store and treat water through the application of high-performance polymeric materials and innovative process technologies. The company supplies swimming pool water treatment equipment includ-
m
ing filters, pumps, heaters, controls, valves and lights.
SKF, the Swedish bearings group, has reported a SKr230 million decline in first quarter net income.
ESSEF SEALS
Z
May 1997
The union represents the hourly workforce at the company's plant in Quincy, Illinois. PRECISION CASTPARTS BUYS OIC VALVES
cord on 18 July 1997. The dividend is payable on 31 July 1997. •
clared a quarterly dividend of US$0.17 per share of the company' s common stock. The dividend is payable on 20 June 1997 to sharehold-
WEBWATCH •
Tahoe Design Software has launched its website at http://www.Itol.com/
ers of record on 2 June 1997. •
~tds . The website de-
Precision Castparts Corp has acquired OIC Valves of Houston, Texas.
scribes Tahoe Design Soft-
OIC offers a range of stainless steel gate, .globe and check valves for chemical, petrochemical, pulp and paper and power industry applications. This product range will corn-
and analysis. Pump selection and pump system de-
ware's
products
Dresser Industries Inc's board of directors has de-
tbr
hydraulic system design
sign software are featured with graphics output. Demo software can be downloaded directly from
•
Crane Co has announced its regular US$0.125 dividend on common stock for the second quarter of 1997. The dividend is payable on 12 June 1997 to shareholders of record at the close of business on 5 June 1997. At its annual general meeting, Cardo AB has declared a 1996 dividend of SKr4.75 per share.
SKF P O S T S DISAPPOINTING DECLINE
r.¢3
3: Z <
INGERSOLL-RAND APPROVES SHARE
Net sales for the same period fell marginally from SKr8881 million to SKr8864 million. While sales were affected by changes in exchange rates and by price and mix effects, volumes remained unchanged. Strong pressure on pricing continues. Sales of seals during the first quarter of 1997 were SKr921 million, up from SKr833 million reported for the same quarter a year ago. During the quarter, production of radial seals began at the joint venture company established earlier this year outside Shanghai.
The board of directors of Ingersoll-Rand Company has authorized the repurchase of up to 10 million shares of the company's common stock.
GENERAL
REPURCHASE PROGRAMME
At 30 April 1997, the company had 109.8 million shares of common stock outstanding. Share repurchases will be made in the open market and in privately negotiated transactions. The repurchase programme is designed to replenish the company's treasury shares, which were depleted by a transfer of shares related to the recent acquisition of Clark Equipment Company.
plement the NEWCO product line of Newman's lnc, a Precision Castparts subsidiary.
the site. The website also has links to other sources of intbrmation and soft-
The acquisition is part of Precision Castparts' strategy to strengthen the product line of PCC Flow Technologies and to reduce the fragmentation of the pump and valve industry.
ware in the fluids handling and pump fields.
technology
Accessible in Italian, English, and
French, Spanish German, Caprari' s
web site at http://www. caprari.it provides a his-
PARKER HANNIFIN REORGANIZES
tory
of
the
company,
product and market sec-
Parker Hannifin has formed three new operating groups.
tor listings and contact facilities.
With effect from 1 July 1997, will be established separately
The website of Netherlands-based DP-Pumps'
from Fluid Connectors. In ad-
at http://www.dp.nl pro-
dition, the Motion & Control
vides detailed information in Dutch and English on
a new Instrumentation Group
Group will be divided into two
the company's vertical stainless steel multistage
groups: Hydraulics and Automation. These newly created
centrifugal pumps and Hy-
groups will be separate and
dro-Unit booster sets.
autonomous and will have their
own
management
DIVIDENDS
teams, which have yet to be •
announced.
AQUATICS
Roper Industries Inc has
DEAL
GARDNER DENVER SECURES 5 YR
ROBBINS & MYERS
declared a quarterly cash dividend of US$0.09 per
Essef Corporation has completed the acquisition of General Aquatics Inc, the swimming pool construction company and manufacturer of swimming pool equipment and accessories.
LABOUR PACT
ACQUIRES TYCON
share to stockholders of re-
Gardner Denver Machinery Inc and the International Association of Machinists and Aerospace Workers have executed a five-year labour agreement.
Expanding its glass-lined equipment business, Robbins & Myers Inc has acquired Industrie Tycon SpA, an Italian producer of glass-lined reactor and storage vessels with annual sales of US$20 million.
General Aquatics has annual sales of US$]66 million. Its American Products business designs and manufactures swimming pool equipment including pumps, filters, lights, skimmers, fittings and vacuums. Essef Corporation, headquartered in Chardon, Ohio, designs and manufactures components to move, store and treat water through the application of high-performance polymeric materials and innovative process technologies. The company supplies swimming pool water treatment equipment includ-
m
ing filters, pumps, heaters, controls, valves and lights.
SKF, the Swedish bearings group, has reported a SKr230 million decline in first quarter net income.
ESSEF SEALS
Z
May 1997
The union represents the hourly workforce at the company's plant in Quincy, Illinois. PRECISION CASTPARTS BUYS OIC VALVES
cord on 18 July 1997. The dividend is payable on 31 July 1997. •
clared a quarterly dividend of US$0.17 per share of the company' s common stock. The dividend is payable on 20 June 1997 to sharehold-
WEBWATCH •
Tahoe Design Software has launched its website at http://www.Itol.com/
ers of record on 2 June 1997. •
~tds . The website de-
Precision Castparts Corp has acquired OIC Valves of Houston, Texas.
scribes Tahoe Design Soft-
OIC offers a range of stainless steel gate, .globe and check valves for chemical, petrochemical, pulp and paper and power industry applications. This product range will corn-
and analysis. Pump selection and pump system de-
ware's
products
Dresser Industries Inc's board of directors has de-
tbr
hydraulic system design
sign software are featured with graphics output. Demo software can be downloaded directly from
•
Crane Co has announced its regular US$0.125 dividend on common stock for the second quarter of 1997. The dividend is payable on 12 June 1997 to shareholders of record at the close of business on 5 June 1997. At its annual general meeting, Cardo AB has declared a 1996 dividend of SKr4.75 per share.